The ratings on Canada Mortgage and Housing Corp. (CMHC) reflect Standard & Poor's Ratings Services' assessment of the following factors: CMHC's status as an agent Crown Corporation (an agent of Her Majesty in right of Canada); Its ownership by the Government of Canada (AAA/Stable/A-1+); and The provision that the company's debt constitutes a direct obligation of the government and is a charge on and payable out of its Consolidated Revenue Fund (CRF). Although CMHC normally services debt from its own resources, its obligations are full-faith and credit obligations of Canada, with access to the CRF assuring timeliness of debt service. Because of this, we have equalized the ratings on the company with those on its owner. Our ratings on CMHC...
Companies mentioned in this report are: Canada Mortgage and Housing Corp.
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